There are some details that you will need to have before you configure your portal for SuperStream.
Set up a Default Fund
The default fund is an employer-nominated fund that super contributions will be paid to if an employee does not nominate their own choice of fund and does not have an existing super fund that can be used. This must be a complying, APRA regulated fund with a minimum level of life insurance.
All APRA regulated funds require a USI (Universal Superannuation Identifier) which is used to identify the organisation providing the superannuation fund, and the specific product that will be used.
You will need to know the USI for your default superannuation fund. Employees will then have the option to nominate their preferred super fund or opt into your default fund.
You can also use the default fund if an employee does not provide you with their choice of fund within a given period of time.
You will need to select a superannuation gateway. This is an organisation that can accept a SAFF file from your portal and complete the process of paying superannuation into selected funds via a clearing house.
If you have an existing clearing house or default fund that you have been using, they may be able to provide this service.
Configure Your SuperStream Settings
Once you have selected a Gateway, you will need to configure your SuperStream Settings
- Go to Config > Company Management > select the entity > Payroll.
- Enter the Default Fund USI.
- Set a SuperStream Start Date. Any superannuation contributes which accrue with a Pay Date prior to the SuperStream Start Date are considered paid already and will not appear for export. Pay runs with a Pay Date on or after the date you select will be available to export.
- Select the SuperStream Contact from the drop-down list.
- Enter the Employer Location ID. This is used if you have several companies under the same ABN or have registered more than one branch or bank account with your nominated gateway. You will need to contact your gateway directly for this number.
- Enter the Superannuation Fund Generated Employer Identifier. This is a reference number your gateway or fund provides to identify your company when providing payment information.
- Enter the SuperStream Account Name, SuperStream Account BSB, and SuperStream Account Number. These fields are for recording the bank account details your gateway or fund would like you to transfer funds into, not your own account.
Note: This step is required if you are exporting the ABA file out of Astute to make these payments. If you make payments directly from your bank account (ie externally to Astute), these details are optional.
- Click Save.
To be SuperStream compliant, you will also need to ensure that the following details have been entered in the Entity Details tab in Company Management:
- Trading Name
- Payroll Team Email
- Payroll Team Phone Number
The below table is a list of some other commonly used terms that you may need to be familiar with when managing your SuperStream contributions.
|The way that businesses must pay employee superannuation contributions to super funds. With SuperStream, money and data are sent electronically in a standard SAFF format
Superstream Alternative File Format
The file that is generated and exported from Astute to upload to your gateway, fund or clearing house. For more information on this file type, contact the ATO.
|Super Clearing House
|A service that allows you to manage and pay all of your super contributions online in one location, regardless of the fund associated with each employee
|APRA Regulated Fund
|A super fund regulated by the Australian Prudential Regulation Authority (APRA)
Self Managed Superannuation Fund
A fund where the members are also the trustees of the fund
|Unique Payment Reference Number
|The reference number used to link the data in a SAFF file to the payment
Unique Superannuation Identifier
Identifies a super product within an APRA regulated fund